Ukrainian central bank calls for $1.5 billion more capital for PrivatBank

The National Bank of Ukraine
The National Bank of Ukraine
Oksana Parafeniuk

Ukraine’s central bank asked the country’s cabinet on June 23 to authorise a further capital injection of 38.5 billion hryvnia ($1.5 billion) for the country’s biggest commercial bank.

It says this is “as a result of the mismanagement by the former bank’s owners and managers”. The Ukrainian state has already injected approximately $4.5 billion of capital into PrivatBank, since its nationalisation in December 2016.

Audit firm EY discovered the loss after being appointed to investigate the bank

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